Central Indiana Building Permits Increase
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Builders Association of Greater Indianapolis is reporting an increase in June single-family building permits, compared to the same month a year earlier. The nine-county organization says it is the 12th consecutive month the region has recorded an increase. July 16, 2013
News Release
INDIANAPOLIS, Ind. – The Greater Indianapolis Nine-County, Single-Family Building Permits for June 2013 increased 13 percent compared to June 2012. There were 474 permits issued in June 2013 compared to 419 permits issued in June 2012.
The June permits mark the 12th-straight same-month increase from the previous year. Permits were at -3 percent in June 2012 and have increased an average of 27.25 percent for the 12 months following.
“The June permits increase confirms that the improvement we have been seeing in the local housing market over the past year continues to take place at a gradual and steady pace,” said Steve Lains, CEO of the Builders Association of Greater Indianapolis.
“Local builders expect to see more of this positive momentum in the coming months as they try to avoid getting ahead of demand along with ongoing constraints they face with regard to the availability of credit, materials, lots and labor.”
Annual totals for the Greater Indianapolis Nine-County region, which includes Boone, Hamilton,
Hancock, Hendricks, Johnson, Madison, Marion, Morgan, and Shelby counties, through June 2013 show permits are up 26 percent from last year with 2,603 permits issued. Comparatively, there were 2,074 permits issued through June 2012.
For the month of June 2013, the 474 permits issued created a total economic impact of $94,914,415 in local income, $21,547,145 in local taxes, and 1,607 local jobs (see chart below).
In the Greater Indianapolis Nine-County region, the 2,603 permits issued through June 2013 have created a total economic impact of $466,155,140 in local income, $105,824,943 in local taxes, and 7,892 local jobs.
The Builders Association of Greater Indianapolis is a professional trade association representing residential homebuilders, associates and remodelers. For more information call 317-236-6330; or visit www.BAGI.com for permits from 2000-2013.
Source: Builder's Association of Greater Indianapolis